cybercash

Definitions

Electronics

Any form of money used over the Internet. Used for many purposes, such as effecting online purchases or making credit card payments. security is a key concern, and considerable measures, such as cryptography, are taken to avoid circumstances such as losses of funds, misplacement of funds, stealing of funds, or the re-use of funds.

A form of currency that is digitally encoded, and that can be converted to legal tender if desired. It may be coded, for instance, through the use of an encrypted serial number. Legal tender is a lawfully valid currency that must be accepted for payment of debts, the purchase of goods and/or services, or for other exchanges for value. Circulating paper money is another form of legal tender.